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CHINA MENGNIU COMPANY LIMITED 中國蒙牛乳業有限公司* (Incorporated in the Cayman Islands with limited liability) (Stock Code: 2319)

ANNOUNCEMENT OF THE INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2015

HIGHLIGHTS

For the six months ended 30 June (Unaudited) 2015 2014 Change RMB’000 RMB’000 %

Revenue 25,564,409 25,835,834 (1.1)% Gross profit 8,142,810 8,381,818 (2.9)% Profit attributable to owners of the Company for the period 1,338,669 1,048,609 27.7% Earnings per share (RMB) – Basic 0.689 0.540 27.6% – Diluted 0.686 0.534 28.5%

* For identification purposes only

– 1 – • Under the “New Normal” growth stage of the Chinese economy, the sub-segments under dairy products have delivered varied performances against the backdrop of intensified competition and changing consumer demand. Premium pure brand Milk Deluxe, UHT yogurt brand Just Yoghurt and chilled brands Champion and Yoyi C recorded strong growth, which has optimized the product mix.

• Mengniu has further consolidated resources, enhanced product innovation and continued to optimize product mix. These efforts, combined with a focused expense investment strategy, have caused the profit attributable to owners of the Company to rise 27.7% during the period.

• Through various technical means, Mengniu has exercised strict control over the quality of raw milk by providing services to the players at the forefront of the industry chain. During the period, the proportion of milk sources provided by ranches and scaled farms reached almost 100%.

• By introducing the advanced knowledge and technology management systems from international strategic partners and fully implementing an intelligent information management system SAP, Mengniu has managed to achieve more effective information management and has considerably enhanced its operational efficiency.

• Mengniu Dairy Co., Ltd. (“Mengniu Danone”), a joint venture established by Mengniu and Danone Group, has accelerated the technological upgrade of its production facility, channel expansion and product development. Currently, Mengniu Danone continues to lead the chilled dairy products market in and ranks first in terms of market share.

• Advances have been achieved in cooperation with international brands: in March, Mengniu renewed its marketing strategic partnership agreement with NBA China; in April, subsequent to the contract renewal, it launched special promotion packaged products.

• With a stable overall performance, Mengniu ranked 11th in the “2015 Global Dairy Top 20” list released by Rabobank, its seventh year on the list.

– 2 – The board (the “Board”) of directors (the “Directors”) of China Mengniu Dairy Company Limited (the “Company”) is pleased to present the unaudited consolidated interim results of the Company and its subsidiaries (the “Group” or “Mengniu”) for the six months ended 30 June 2015, together with the comparative amounts. The interim results and condensed interim financial statements have been reviewed by the audit committee (the “Audit Committee”) and the auditors of the Company.

INTERIM CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS

Unaudited For the six months ended 30 June 2015 2014 Notes RMB’000 RMB’000

Continuing operations Revenue 4 25,564,409 25,835,834 Cost of sales (17,421,599)